What is Healthcare Payer BPO?
Healthcare Payer BPO has the main focus on the operational side of the Payer business with a specific focus on improving the efficiency of the process such as claims processing, enrollment, contact center, and data entry. The factors such as Increasing Healthcare Expenditure, Increasing Demand for Medical and Billing Services, and Rise in the Disease Burden and Penetration of Insurance Coverage in Emerging Companies are the key drivers for the global Healthcare Payer BPO market. In addition, the Increasing Number of Insurance Service Providers also fueling the growth of the market. However, Data Privacy and Security Concerns and the Lack of Skilled Professionals may hamper the market growth.
The market study is broken down, by Application (Large hospitals, Middle hospitals, Pharmacy and Insurance companies) and major geographies with country level break-up.
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Research Analyst at AMA estimates that Players from United States will contribute to the maximum growth of Global Healthcare Payer BPO market throughout the predicted period.
Cognizant (United States), Xerox Holdings Corporation (United States), Accenture plc (Ireland), Hinduja Global Solutions Limited (India), Wipro Limited (India), Capgemini SE (France), Genpact (United States), HCL Technologies Ltd (India), EXLService Holdings Inc. (United States), Catalent, Inc. (United States) and Hewlett Packard Enterprise (United States) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global Healthcare Payer BPO market by Type, Application and Region.
On the basis of geography, the market of Healthcare Payer BPO has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Service, the sub-segment i.e. Claims Processing Services will boost the Healthcare Payer BPO market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In October 2020, Accenture had entered into an agreement to acquire Paris-based OpusLine, one of the leading consulting companies that provide strategic advisory and transformational services to public- and private-sector healthcare providers as well as life sciences and insurance companies in France.
- Increasing Number of Insurance Service Providers
- Increasing Healthcare Expenditure
- Increasing Demand for Medical and Billing Services
- Rise in the Disease Burden and Penetration of Insurance Coverage in Emerging Companies
- Growth in the Geriatric Population
- Growing Healthcare Industry Worldwide
- Data Privacy and Security Concerns
- Lack of Skilled Professionals
Key Target AudienceHealthcare Payer BPO Companies, Research Professionals, Emerging Companies and End-users
About ApproachDuring this study the evaluation and validation of the market size is done through various sources including primary and secondary analysis. AMA Research & Media follows industrial and regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
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